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Details van artikel 5 van 13 gevonden artikelen
| Titel: |
Cointegration, causality and Wagner's Law in 19th century Europe |
| Auteur: |
Thornton, John |
| Verschenen in: |
Applied economics letters |
| Paginering: | Jaargang 6 (1999) nr. 7 pagina's 413-416 |
| Jaar: |
1999-07-01 |
| Inhoud: |
The long-run tendency for government expenditure to grow relative to GNP, Wagner's law, is tested for six European countries using data from around the mid-19th century to 1913. With few exceptions the results suggest that: nominal and real GNP, nominal and real government expenditure, and population were nonstationary in their levels but stationary in first differences; either nominal GNP and nominal government expenditure and/or real GNP and real government expenditure were cointegrated in five of the six countries, and that these variables were cointegrated with population in the remaining country; and Granger-causality was mainly unidirectional from income to government expenditure. Thus, there is considerable support for Wagner's law in 19th century Europe. |
| Uitgever: |
Routledge |
| Bronbestand: |
Elektronische Wetenschappelijke Tijdschriften |
Details van artikel 5 van 13 gevonden artikelen
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